HC Wainwright Lowers Zynex (NASDAQ:ZYXI) Price Target to $15.00

Zynex (NASDAQ:ZYXI) had its target price dropped by research analysts at HC Wainwright from $17.00 to $15.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 114.29% from the company’s previous close.

Several other equities analysts also recently weighed in on the stock. Royal Bank of Canada downgraded shares of Zynex from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $11.00 to $5.50 in a research note on Wednesday. LADENBURG THALM/SH SH downgraded shares of Zynex from a “buy” rating to a “neutral” rating in a research note on Wednesday.

Zynex Stock Performance

Shares of ZYXI stock opened at $7.00 on Wednesday. The firm has a market cap of $222.92 million, a price-to-earnings ratio of 46.67 and a beta of 0.81. The company has a debt-to-equity ratio of 1.66, a quick ratio of 3.15 and a current ratio of 3.94. Zynex has a 52 week low of $4.36 and a 52 week high of $13.19. The firm’s 50-day simple moving average is $7.72 and its two-hundred day simple moving average is $8.02.

Zynex (NASDAQ:ZYXI) last posted its earnings results on Tuesday, March 11th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.11). Zynex had a return on equity of 13.05% and a net margin of 2.49%. During the same quarter in the previous year, the company posted $0.04 earnings per share. As a group, equities analysts forecast that Zynex will post 0.2 earnings per share for the current year.

Insider Activity at Zynex

In related news, CFO Daniel J. Moorhead sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $7.68, for a total transaction of $76,800.00. Following the completion of the transaction, the chief financial officer now owns 19,738 shares of the company’s stock, valued at approximately $151,587.84. The trade was a 33.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 30,000 shares of company stock valued at $227,100. Corporate insiders own 52.13% of the company’s stock.

Hedge Funds Weigh In On Zynex

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its stake in Zynex by 6.2% in the 4th quarter. Bank of America Corp DE now owns 24,114 shares of the company’s stock worth $193,000 after buying an additional 1,407 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Zynex by 2.1% in the 4th quarter. Ameriprise Financial Inc. now owns 96,813 shares of the company’s stock worth $775,000 after buying an additional 1,993 shares in the last quarter. Connors Investor Services Inc. grew its stake in Zynex by 5.7% in the 4th quarter. Connors Investor Services Inc. now owns 29,858 shares of the company’s stock worth $239,000 after buying an additional 1,608 shares in the last quarter. Lido Advisors LLC purchased a new position in Zynex in the 4th quarter worth approximately $240,000. Finally, Hancock Whitney Corp grew its stake in Zynex by 44.1% in the 4th quarter. Hancock Whitney Corp now owns 40,986 shares of the company’s stock worth $328,000 after buying an additional 12,542 shares in the last quarter. Hedge funds and other institutional investors own 29.68% of the company’s stock.

Zynex Company Profile

Zynex, Inc, together with its subsidiaries, designs, manufactures, and markets medical devices to treat chronic and acute pain; and activate and exercise muscles for rehabilitative purposes with electrical stimulation. The company offers NexWave, a dual channel, multi-modality interferential current, transcutaneous electrical nerve stimulation, and neuromuscular electrical stimulation (NMES) device that is marketed to physicians and therapists by field sales representatives; NeuroMove, an electromyography and electric stimulation technology device; InWave, an electrical stimulation product for the treatment of female urinary incontinence; E-Wave, an NMES device; M-Wave, an NMES device.